NAICS 334514 - Totalizing Fluid Meter and Counting Device Manufacturing
This U.S. industry comprises establishments primarily engaged in manufacturing totalizing (i.e., registering) fluid meters and counting devices. Examples of products made by these establishments are gas consumption meters, water consumption meters, parking meters, taxi meters, motor vehicle gauges, and fare collection equipment.
Industry trends:
NAICS 334514, which encompasses Totalizing Fluid Meter and Counting Device Manufacturing, has been experiencing notable qualitative trends influenced by advancements in technology, changing regulatory environments, and evolving customer demands. A key trend is the integration of Internet of Things (IoT) technology into fluid meters and counting devices, enabling real-time monitoring, predictive maintenance, and enhanced data analytics capabilities. This shift towards smart metering is driven by the need for increased operational efficiency and cost savings. Additionally, there is a growing emphasis on sustainability, leading manufacturers to develop more energy-efficient and environmentally friendly products.
Another significant trend is the customization of devices to meet specific industry requirements, particularly in complex sectors such as oil and gas, water management, and pharmaceuticals. This trend is fueled by the increasing demand for accuracy, reliability, and regulatory compliance. The use of advanced materials and sensor technologies is also making devices more robust and capable of operating in harsh environmental conditions.
Looking ahead, the industry is expected to see continued growth in the adoption of smart metering solutions, primarily driven by the push towards digital transformation across various industries. The ongoing advancements in AI and machine learning are likely to further enhance the capabilities of these devices, offering more sophisticated data analysis and decision-making support. Additionally, regulatory pressures and the global emphasis on sustainable practices are anticipated to shape product development and market dynamics, encouraging innovation and the adoption of green technologies in fluid metering and counting devices.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.